LORDSTOWN, Ohio (WKBN) — Electric vehicle-maker Lordstown Motors announced in a press release Thursday that the company’s first two Lordstown Endurance commercial pickup trucks are now off the production line.
According to a press release, these first vehicles are part of the first batch of up to 500 saleable vehicles that the company intends to build. The company previously unveiled its prototype models.
The company expects to deliver approximately 50 units to customers in 2022 and the remainder of the first batch in the first half of 2023, subject to raising sufficient capital.
Lordstown Motors anticipates ending the third quarter with approximately $195 million in cash and cash equivalents, including $27.1 million of proceeds from equity issuances during the third quarter of 2022, according to the release.
In May, Lordstown Motors reached a $230 million asset purchase agreement with Foxconn to make electric vehicles.
WKBN 27 First News has asked several times but has not been able to directly witness or independently verify the production numbers for Lordstown Motors.